The Pioneer Valley is a region with many attributes, one of which is great economic potential. Its mix of city, small-town, and rural flavor, combined with a significantly lower cost of living than in the eastern part of the state, makes it attractive from a quality-of-life perspective. In addition to these attributes, which can serve as a lure for a qualified labor force, new businesses, and job growth, the region has several other elements that can promote successful economic development. Among these are a well developed transportation network and proximity to large East Coast markets, a unique capacity in telecommunications, and a strong presence in higher education. Still, the promise of the region is not reflected in the economic data. Many of the industries comprising its economic base do not have good growth prospects for the national and global markets of the twenty-first century. The task at hand is to reorient the Valley’s economic base from its roots in the industrial revolution toward one that can be expected to thrive in the next century.